The cryptocurrency market is coming back with a bang with Bitcoin prices crossing the $7500 mark. The currency has been seeing a sharp rise since the beginning of 2019. Bitcoin had earlier risen to the $20000 mark which surprised all the investors and non-investors with that steep price rise. But, soon enough it fell and settled around $4000 mark. Other cryptocurrencies like ethereum have also witnessed a rise in their prices during recent times and investors and potential investors are in a jist as to whether to hold their currency or invest in more.
Bitcoin: Insight for potential investors
Many billionaires have predicted that Bitcoin will rise upto 100x in the coming years and their predictions were deemed true when the Bitcoin rose to $20000. But, even since the drop of Bitcoin which hurt many investors who had invested during the boom, people have always been in two minds about whether to invest or not.
Our advice for potential investors would be to try and invest a little amount that you will not mind losing. Wait and see how it fares and then you can go on to invest more.
Some people have also deemed the cryptos as a Ponzi Scheme. Its believed they are bound to fail soon or in such a situation where every investor tries to cash out. It remains to be seen whether that situation will ever occur. And also what it will do to the stance of cryptocurrencies like bitcoin.
What should all investors do?
If you’ve already invested in cryptos and they have already made you money, it might be a wise decision to cash out. But, if you’re a high-risk investor, it would be feasible to see where the cryptos go and they might go a long way. If experts are to be believed, cryptocurrencies are the next big things. People think that its no big deal that they might replace currencies soon in a large no, if not completely.
For more updates on cryptocurrencies, stay tuned to The Geek Herald.